IRAs
IRA Savings
- Minimum amount to open: $150
- Checking account customers can receive a combined monthly statement
- Earn daily interest, compounded quarterly
- FDIC-insured up to $250,000
- Interest rate tiers: $150; $2,500; $10,000; $25,000; $50,000; $100,000
- Free Online Banking
IRA Certificates
- Minimum amount to open: $500
- Checking account customers can receive a combined monthly statement
- Term options: 91 days, 182 days, 7-60 months in one-month increments
- "Step-Up" Bonus: If rates go up, your rate can be increased once every 12 months upon request after age 59 1/2
- FDIC-insured up to $250,000
- Early withdrawal penalty: term of one year or less-90 days' interest; term greater than one year-180 days' interest. (All bank penalties waived at age 59 1/2.)
- Additional deposits allowed for first six months for terms greater than 11 months ($500 minimum additional deposit)
- Free Online Banking
Interested in IRAs using mutual funds, securities, or other investments?
Find out about Northwestern Investmests, Trust and Retirement Services.
Important Information Regarding Required Minimum Distributions (RMDs) From Your IRA
Click here to learn more about the Worker, Retiree, and Employer Recovery Act of 2008.